"We have been asking investors to (be) overweight in cash so that in time, when the bear market bottoms, they can go back right in," Roth said on CNBC Asia Pacific's "Protect Your Wealth" segment.

(Watch full interview at left)

Roth also advises clients to put 5 percent of their money into government bonds in this market environment. However, she remains selective on the quality of bonds -- staying away from those below A+ grade. Instead, she suggests investors diversify their portfolio instead.

And though gold is often seen as a safe haven, Roth thinks otherwise. "We are underweight gold. It doesn't behave like a safe-haven asset. It's behaving more like commodities and we are 'underweight' that because as long as the U.S. dollar is strengthening, this space cannot do well, so we are quite negative on gold."